What does Freddie Mac stand for?
Federal Home Loan Mortgage Corporation
As we mentioned earlier, Freddie Mac is not an actual person but is instead a variant of the initials of the company’s full name, the Federal Home Loan Mortgage Corporation or FHLMC. Freddie Mac was created in 1970 as part of the Emergency Home Finance Act.
Where is Freddie Mac now?
Tysons Corner, Virginia, U.S. The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is a publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.
How does Freddie Mac make money?
Freddie Mac was established in 1970 to help expand the secondary mortgage market in the United States. Freddie Mac makes money by charging a guarantee fee on its purchased loans that have been bundled, or securitized, into mortgage-backed securities (MBS) that provide investors with interest income.
How did Freddie Mac get caught 2003?
An accounting scandal erupted at Freddie Mac in June 2003 when it disclosed that it had misstated earnings by some $5 billion _ mostly underreporting them _ for 2000-2002 to smooth quarterly volatility in earnings and meet Wall Street expectations.
What is Freddy Mack mortgage?
Freddie Mac is a government-owned corporation that buys mortgages and packages them into mortgage-backed securities. Its official title is the Federal Home Loan Mortgage Corporation or FHLMC.
What is Freddie MAC’s address?
Mailing Address, Corporate Office Address, Headquarters Address. Freddie Mac Headquarters Office Address 1: 8200 Jones Branch Drive, McLean, VA 22102-3110. Freddie Mac Headquarters Address 2: 8250 Jones Branch Drive, McLean, VA 22102-3110.
What is Freddie Mac loan modification?
Standard mortgage modification through Freddie Mac involves a written agreement between you and mortgage servicer that changes one or more terms of your loan. A better option for many homeowners with Freddie Mac-owned mortgages, though, may be the Home Affordable Modification Program, or HAMP.
What is Freddie Mac financing?
The Federal Home Loan Mortgage Corporation or “Freddie Mac” is a government-sponsored enterprise that owns or guarantees many of the mortgage loans in the United States. Freddie Mac’s main function is to provide liquidity to the nation’s mortgage financing system.
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